Often in the crypto community, you can hear the theory about the best time to trade crypto. Considering the above, it’s hard to imagine that there really are optimal operating crypto market hours. Prices fluctuate every second, so there’s a small chance to predict a profitable trade.
Previously, we have already talked about trading patterns that can be used to analyze the market. Today we are going to talk about the best time of day to trade cryptocurrency. Does such a concept even exist? And if it does, how can you work with it? If you want to know more about this topic, read below.
The world of cryptocurrency is like a curb market, except that it runs 24/7/365. It is almost impossible to keep track of it. The volatility (price fluctuations) of digital currencies has a very wide range. The recent collapse of Bitcoin showed how unstable and vulnerable this market is. Nevertheless, more and more people are investing in cryptocurrency in an attempt to make money. If you are one of them, this article is for you.
The best time to trade crypto: truth or fiction
Let`s imagine the situation.
Would Joe’s business be successful and the trade in the exchange profitable without a strategy? There is always a chance. But when it comes to finances, hardly anyone wants to rely on luck.
Transactions with cryptocurrency on exchanges are always a huge risk. Someone loses absolutely everything, and someone becomes a millionaire. In any case, it is always possible to minimize the risks. What do you need for it? Find the best times to trade crypto.
Best time to trade crypto on the day
Stock markets operate only during certain hours of the day. In contrast, the cryptocurrency market is open 24/7. So you can buy, sell, exchange, and trade crypto at any time, as long as you have access to the web. The best times to trade Bitcoin or another digital currency during the day depending on your time zone.
For example, in Asia, it is the predawn and morning hours (5:00 a.m. to 8:00 a.m.). In Europe, it is the lunch hour (11:00 a.m. to 3:00 p.m.). In the United States, it is the evening hours (5:00 p.m. to 7:00 p.m.).
Less favorable hours for trading are between 8:00 p.m. to 1:00 a.m. This is the time when volatility is low and asset values are declining.
This chart is not a direct hit on a high price, but it works positively with most known cryptocurrencies.
Best day of the week to buy cryptocurrency
Based on statistics, traders also determined the best day for crypto trading.
As a rule, prices start to rise from Monday to Friday. So if you want to buy cryptocurrency, it’s worth watching after market’s behavior from Sunday to Monday.
There is low trading activity after the weekend, so prices are at their lowest.
The best period of the month to buy cryptocurrency
Monthly changes in the price of crypto are much more noticeable than weekly ones.
If you analyze the general trend of price fluctuations of popular cryptocurrencies during the month (Bitcoin, Ethereum, Solana), you can notice one thing in common: by the middle of the month, the value actively reaches its maximum. This happens around the 10th-15th of the month.
Closer to the end of the month, there is a price collapse. This is most likely due to the fact that traders sell assets after the rise in the second half of the month.
Again, the strong market volatility does not guarantee that the patterns for the next month will hold. To understand the situation in the market, you need to follow the processes that happen in it.
If you want to trade, you have to develop your own strategy. There are many methods and techniques on the market for this. Analyzing the best time frame for the day, week, and month trading is one of them.
It’s up to you what to choose. The main thing is to be prepared for the fact that predictions won’t always work. Whether a deal will be successful or not depends only on the state of the market at the particular moment, and keep in mind that the market is volatile.
No one can predict how a coin will behave in the future, but there are certain crypto trading hours that will help minimize the risks and increase the chances of successful investment.